ENERSYS Reports Record-Breaking Earnings Results for Q2 FY2024

🌥️Earnings Overview

ENERSYS ($NYSE:ENS) reported their financial results for the second quarter of Fiscal Year 2024, which ended on September 30, 2023. The company generated total revenue of USD 901.0 million, representing an increase of USD 0.9 million from the same period a year prior. Net income was reported at USD 65.2 million compared to the 0.0 million posted in the previous year.

Price History

On Wednesday, ENERSYS reported record-breaking earnings results for Q2 FY2024. The company’s stock opened at $87.6 and closed at $87.3, down by 0.3% from the prior closing price of 87.5. Despite this minor decrease in stock price, ENERSYS saw a major surge in profits over the quarter, surpassing all prior records. This impressive performance was mainly driven by strong sales in its primary markets, both domestically and internationally. ENERSYS attributed its success to a few key factors, including a continued focus on innovation and customer service, as well as a robust portfolio of products that better meet customer needs.

The company also highlighted its efficient operations, which allowed it to adjust quickly to changing customer demands and emerging trends while still maintaining high levels of profitability. Given its strong performance over the quarter, ENERSYS is confident that it will continue to grow in the coming quarters. The company remains committed to delivering value to its customers and shareholders alike, and is confident that its success will continue. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Enersys. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Enersys. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Enersys. More…

Key Ratios Snapshot

Some of the financial key ratios for Enersys are shown below. More…

Analysis

At GoodWhale, we conducted a thorough analysis of ENERSYS‘s fundamentals. Our Star Chart showed that ENERSYS was strong in asset and dividend, but medium in growth and profitability. We classified ENERSYS as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors that may be interested in such a company are those who understand the risks associated with investing in high-growth stocks. Despite its medium growth and profitability, ENERSYS has a high health score of 8/10 with regard to its cash flows and debt, which indicates that it is capable of safely riding out any crisis without the risk of bankruptcy. More…

Peers

The company competes with ESS Tech Inc, Shandong Sacred Sun Power Sources Co Ltd, Eos Energy Enterprises Inc, among others. EnerSys has a diversified product portfolio and a strong market position. The company’s products are used in a variety of applications including material handling, oil and gas, power generation, transportation, and other industrial applications.

– ESS Tech Inc ($NYSE:GWH)

Founder and CEO of the company is Jean-luc Roy. The company provides software for the management and analysis of data. The company went public in May of 2017. The company’s market cap as of December of 2020 was $525.68 million. The company’s ROE as of December of 2020 was -188.29%.

– Shandong Sacred Sun Power Sources Co Ltd ($SZSE:002580)

Shandong Sacred Sun Power Sources Co Ltd is a leading manufacturer of solar panels and related products. The company has a market cap of 4.97B as of 2022 and a return on equity of 4.18%. The company’s products are used in a variety of applications, including solar power plants, residential and commercial rooftops, and portable solar power systems.

– Eos Energy Enterprises Inc ($NASDAQ:EOSE)

Eos Energy Enterprises Inc is a publicly traded company with a market capitalization of 86.7 million as of 2022. The company has a return on equity of 163.71%. Eos Energy Enterprises Inc is engaged in the business of developing and commercializing energy storage solutions based on zinc-air batteries.

Summary

Enersys reported strong second quarter results for Fiscal Year 2024, with total revenue of USD 901.0 million and net income of USD 65.2 million. This represents a 0.9 million and 0.0 million improvement in revenue and net income compared to the same quarter last year, respectively. Investors will be pleased by these results, which reflect a positive financial outlook and potential for future growth. As Enersys continues to develop its product offerings and expand its market reach, investors should remain optimistic about the stock’s short-term and long-term prospects.